Online National Pension System (NPS) Calculator: For those working in the private sector, job security and absence of guaranteed pension after retirement are two of the biggest cause of concerns. With the help of National Pension System (NPS), the latter concern can be effectively ended. The scheme, which is regulated by the PFRDA of the Government of India, offers healthy returns as pension and a lump sum if someone starts investing early. Considering the inflation factor, one should assess their expected pension needs and start investing as soon as possible.

If you are wondering how much you need to invest monthly, or annually, to get your desired pension upon retirement, you can get an estimate online with the help of NPS calculators offered by HDFC Pension, SBI and also the official National Pension System Trust (http://www.npstrust.org.in/content/pension-calculator).

At an expected return of 10% per annum, here's a look at what you may need to invest for a monthly pension of Rs 20,000/month, Rs 30,000/month, Rs 40,000/month, Rs 50,000/month, Rs 75,000/month, Rs 1,00,000/month and Rs 1.5 lakh/month

Rs 20,000/month

According to the HDFC pension calculator, for the pension of Rs 20,000 per month, you need to invest Rs 2424 per month.

Rs 30,000/month

According to the HDFC pension calculator, for the pension of Rs 30,000 per month, you need to invest Rs 3637 per month.

Rs 40,000/month

According to the HDFC pension calculator, for the pension of Rs 40,000 per month, you need to invest Rs 4849 per month.

Rs 50,000/month

According to the HDFC pension calculator, for the pension of Rs 50,000 per month, you need to invest Rs 6061 per month.

Rs 75,000/month

According to the HDFC pension calculator, for the pension of Rs 75,000 per month, you need to invest Rs 9091 per month.

Rs 1,00,000/month

According to the HDFC pension calculator, for the pension of Rs 1 lakh per month, you need to invest Rs 12122 per month.

Investment in NPS qualifies for income tax benefit. You can get an additional tax rebate of Rs 50,000, beyond the Rs 1.5 lakh limit under 80C, on the amount invested in NPS. In other words, you can save tax on Rs 50,000 taxable income by investing it in NPS every year. If you start such investment at the age of 30, you may be eligible for a pension of around Rs 17,000.